Financial institutions still struggle with how to manage financial risks posed by climate change, but they continue to make strides in areas like governance and strategy around the climate change challenge, according to a new report published by the Global Association of Risk Professionals.
Twenty banks and seven other financial institutions comprising asset managers, insurers, and financial market infrastructure companies from across the globe were surveyed. These firms collectively hold about $20 trillion of assets on their balance sheets and manage assets of $12 trillion.
